All Forum Posts by: Adam Walter

@Scott Lyons SDIRAs for Real Estate is supposed to be used for passive income which this model fits. Also, it doesn't require a lot of knowledge or work on the part of SDIRA owner vs saying owning a rental property. So ultimately, your IRA is getting a 10% return either tax free or tax deferred secured by real estate with minimal work.

@Stephanie Skinner  I've been doing something similar in the Cincinnati Market.  We should talk.  

First time hearing about this option. It appears that the HVAC company is doing a rent-to-own HVAC system and bundling it with a maintenance plan. The cost comes out to be $42,000 total which feels expensive to me. That's over $2200 per year in interest and maintenance; a home warranty would be much less than that and covers more. Personally, I love to sell on RTO but hate to buy on it. Also, it would be more difficult to sell the house with the contract in place. I would pay upfront and recoup my costs with the refinance. Ultimately, it all depends on your goals and financial situation. I agree with Daniella, and would seek some additional bids. I've used the same HVAC company for the past 15 years and they are very investor friendly. They will give you a good price, but will not give you terms and payment is due upon completion. Private message me if you would like their contact info.

@Jesse Jacobs

I have multiple rentals and also wholesale (mainly rentals) and can provide some financing if you purchase one of my properties.  I know the Cincinnati market pretty well.  I'd be happy to look at your deal and the numbers and give you some additional insight.  Feel free to direct message me.  

Hi Jesse,

Congrats on landing a good deal!

I would question if it will cash flow or not. With high end properties like this, many times it's a negative cash flow situation. Do you need a positive cash flow? Why are you seeking out such high end properties for BRRRRR?

Sounds like a Mason or West Chester house to me.  Why not do a flip or wholesale if possible and use the profits for a rental in the 60-80k range which will more easily cash flow?

Just my thoughts.  

Hi Jason, 

Dave Donnett is who I use, and is one of the main eviction attorneys for Cincinnati.

First Financial Bank is very investor friendly and I believe they will be able to to do everything you need with the exception of having locations outside the Cincinnati market.  Transferring money within FFB takes seconds and transferring outside FFB may take a day or so; I don't do it very often and don't remember it taking very long.  I have multiple checking accounts with them and have been happy with them for many years.  I would stay away from 5/3rd and PNC.  

Hi Andrew,

@paul sian and Tim Shrout are both good agents.  I also live in Mason and have been investing in  small mulitfamily residential properties in Cincinnati the past 12+ years.  Send me a PM if you want to get together for coffee or lunch sometime to discuss the pluses and minuses of multifamily properties.  

Property management and contractors are going to be one of your biggest challenges in this market.  The good property managers manage their own properties, and currently there is a huge demand and low supply of contractors.

I would recommend Tim Shrout from Keller Williams.  Good Luck.  

 I recommend Paul as well.  

 Hi Darius,

Depends on what you mean by multifamily properties.  2-6 units are very different than 20+ units.  Most agents specializing in 20+ units are investor friendly.  If you are looking for smaller units, I would recommend Tim Shrout, who I use and I'm an agent myself!  PM me for his contact info or just google his name.  He has a Northern Kentucky 859 area code but does all of Greater Cincinnati.